Additional tax benefit for Thai ESG fund
The maximum tax benefit for purchasing the ESG (Environmental, Social and Governance) fund will be revised to THB 300,000 (USD 8,700) per person per year (from THB 100,000 (USD 2,900) in the previous year). The required holding period will also be reduced from 8 years to 5 years from the date of purchase.
https://www.bangkokpost.com/business/general/2838333/thai-esg-fund-tax-breaks-improved
Tax incentive for Thai top talent returning from abroad
The Cabinet approved tax measures to encourage skilled Thai professionals working abroad to return and work in Thailand. These measures provide tax benefits for both employees and employers as follows:
| Employer | Employee | |
| Criteria | Ø Operates in a targeted industry.
Ø Employs qualified Thai employees returning from abroad. |
Ø Is a Thai national with a minimum of a bachelor’s degree.
Ø Has been working abroad for at least 2 years. Ø Returns to Thailand during the measures effective date – 31 December 2025 Ø Is employed in a targeted industry Ø Must not have worked in Thailand during the tax year before using the tax benefit. Ø Stays in Thailand for at least 180 days in the tax year they use the benefit (with exceptions for the first and last years). |
| Benefit | Ø The salary expenses for qualifying employees are 1.5
times tax-deductible |
Ø The personal income tax rate will capped at 17% on earnings from a company in targeted industries. |
| Targeted industries | automotive, electronics, high-quality tourism, agriculture, food, biotechnology, logistics, robot and automation, aviation and space, biofuels, petrochemicals, digital, medical, defence, circular economy, international business centres, and other industries that require work using specialised skills in the specified fields
*The targeted industries above are the same as those under the Long-Term Residence (LTR) Visa for high-skilled professionals. |
https://www.bangkokbiznews.com/business/economic/1137897
Cessation of inbound duty-free shop
The inbound duty-free shops in all international airports throughout Thailand, including Suvarnabhumi, Don Mueang, Chaing Mai, Phuket, Hat Yai, U-tapao, Samui, and Krabi airports, have ceased their operation from 1 August 2024 onward in an effort of the government to boost domestic spending.
https://www.channelnewsasia.com/asia/thailand-tourism-duty-free-shut-inbound-shops-4464446
Criminal tax case to be under the Tax Court
The Cabinet proposed an amendment to the Act Establishing the Tax Court and Procedure for Tax Court for the criminal violation in relation to the tax law to be under the jurisdiction of the Tax Court to reduce redundancy and operation costs and to improve the efficiency in the implementation of the tax law.
https://www.thaigov.go.th/infographic/contents/details/8430
Destination Thailand Visa (DTV)
The government has introduced the Destination Thailand Visa (DTV) to attract foreigners interested in long-term visits to Thailand. The DTV allows a stay of up to 180 days per visit, with a validity period of 5 years and on a multiple-entry basis, and with the possibility of extending the stay for an additional 180 days. Foreigners eligible for the DTV are:
| Category | Description |
| Long-term traveller | – |
| Remote worker | Highly skilled or freelance workers who work remotely |
| Other activities | Learning martial arts /cooking /sports, sports practice, attending seminars, receiving medical treatment or holding
art/music events. |
The visa application fee is THB 10,000 (approx. USD 290), and the fee for extending the visa is THB 1,900 (approx. USD 50). To apply for the DTV, applicants must provide proof of a financial statement showing a balance of at least THB 500,000 (approx. USD 14,500) at the time of application or extension.
In addition, DTV holders are permitted to bring their dependents, including legitimate children under the age of 20 and their spouses.
https://ratchakitcha.soc.go.th/documents/37565.pdf
Construction of a new residential building to be tax deductible Retroactively effective from 9 April 2024, individuals can benefit from a personal income tax (PIT) deduction from the cost of the construction of a new residential building. For every THB 1,000,000 (approx. USD 29,000) paid to contractors, a tax deduction of THB 10,000 (approx. USD 290) will be granted, with a maximum deductible amount of THB 100,000 (approx. USD 2,900). To be eligible for the deduction the following conditions must be met:
- The contractor must not operate in a real estate business which is subject to specific business tax under Section 91/2 (6) of the Revenue Code, and the transaction for land purchase and for residential construction must be separated; and
- The construction must be for a new residential This does not include alteration, additions, reductions, extensions, repairs, or demolitions of an existing building.
